Laon and advance to employee
This query is : Resolved
08 November 2011
DEAR SIR,
IF COMPANY PROVIDE CASH LOAN TO EMPLOYEE MORE THAN 20000/- THEN ANY INTEREST ON THAT LOAN APPLICABLE AS PER INCOME TAX ACT. OR ANY LIMIT TO PROVIDE CASH LOAN TO EMPLOYEE....
THANKS
IF COMPANY PROVIDE CASH LOAN TO EMPLOYEE MORE THAN 20000/- THEN ANY INTEREST ON THAT LOAN APPLICABLE AS PER INCOME TAX ACT. OR ANY LIMIT TO PROVIDE CASH LOAN TO EMPLOYEE....
THANKS
08 November 2011
An assessee can not accept cash loan for Rs 20000 or more in cash. (Section 269SS)
.
In case the assessee has taken loan of more than Rs 20000/- from the company then interest or concession in interest (from SBI Rates are considered for calculation purpose) is treated as taxable perquisite in the hand of the employee.
.
In case the assessee has taken loan of more than Rs 20000/- from the company then interest or concession in interest (from SBI Rates are considered for calculation purpose) is treated as taxable perquisite in the hand of the employee.
08 November 2011
NO PERKS IF LOAN AMOUNT IN AGG DOES NOT EXCEED RS 20000
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
